Why being a payroll client of a Russian bank brings many benefits to foreign workers

If you are legally working in Russia, you can easily become a payroll client of a Russian bank. Read below how a foreign worker may become a payroll client and what advantages it gives.

The majority of migrant workers come to Russia from Central Asia and Armenia. Foreign workers rarely use bank cards for receiving their wages and for other financial purposes.

However, a bank card issued by a Russian bank and the status of a payroll client give legally working foreigners not only a guarantee that they will receive all the payments set out in their employment contract timely, but also provide some other financial and everyday benefits.

How to become a payroll client of a Russian bank

Under Russian law, the right to choose a payroll bank belongs to an employee rather than to an employer.

When choosing a bank where a customer wants to receive his/her salary/wage, he/she should submit an application to the employer specifying the number of the bank account to which his/her salary/wage should be paid. For example, if your next payday falls on the 20th day of a month, you need to ask your employer to transfer your salary to another bank no later than by the 15th day of that month.

You can fill in and download the application form for your salary transfer directly on the bank's website. You can make any your debit card into a salary card both online or at the bank branch.

What advantages salary cards give to foreign workers

• Salary card is free. You won’t have to pay the card service fee while your salary is paid to it.
• Free bank transfers. You do not need to pay for card-to-card transfers from your payroll bank within the set limit. Such free transfers usually amount to up to RUB 50,000 per month.
• Free cash withdrawal. You can withdraw a significant amount of money from your salary card without any commission — at least RUB 150,000 per day.
• Bonus points for purchases and keeping money on the payroll account. Some banks can accrue bonus points for each your purchase with a salary card. The more you buy with the card, the more bonus points you get. The bonus points can be exchanged at the rate of 1 bonus point per 1 ruble in the companies and stores partnering with the banks. You can find all the details of such programs on the banks' websites in the sections on salary (debit) cards. Moreover, depending on the amount of monthly purchases with the salary card or the money you keep on the card account, the bank may accrue additional bonus points. For example, you can get 5% bonus points from the amount paid at any cafe and taxi fare or 10% at any gas stations.
  

What other services and benefits are available for foreign workers with salary cards

• Money safety. Obviously, migrant workers are most concerned with the safety and security of their money. In this case, banks guarantee protection of their money from fraud. Some banks offer their payroll clients insurance policies with a 20% discount providing full coverage for the losses resulted from fraud. If fraudsters get access to your cards or accounts, the insurance company will compensate for the stolen money in full.
• 30% discount on mobile communication. For foreign workers mobile communication at an affordable price is particularly important as they need to stay in touch with their families and loved ones left in their home country. Besides, many types of jobs in which migrants are employed require active use of mobile services. That is why some Russian banks offer discounts for mobile phone services to their payroll clients. For some tariffs the discount reaches 30%.
• Miscellaneous benefits. Some banks offer their payroll clients almost free subscription to movie and music services (1 RUB per 3 months). Also, there can be free food delivery, taxi discounts and many other benefits.

Takeaway:

• You can fill in the application to the employer for changing the payroll bank directly on the bank’s website or in its mobile application.
• It is convenient, safe and practical to receive your salary to a salary card issued by a large reliable bank. Salary cards provide financial and other benefits, discounts when using mobile communication services, taxi, cafes and food delivery. Banks also protect the money of foreign workers from fraud.
• When choosing a payroll bank in Russia, it is important to consider the size and reliability of the bank, as well as availability of additional services.